The Ghana National Petroleum Corporation (GNPC) has warned that the government’s decision to cut its revenue retention rate from 30% to 15% in 2025 is constraining its operations and limiting its ability to pursue capital‑intensive projects.
GNPC Chief Executive Kwame Ntow Amoah told Parliament’s Public Accounts Committee that the reduction has hit several of the corporation’s activities at a time when it was looking to expand into areas such as the importation of liquefied natural gas (LNG).
Speaking in the hearing, Mr Amoah said the corporation has been engaging the Finance Ministry to restore the retention rate to 30% to provide the resources needed to support its growing operations. He added that the Energy Minister has been leading efforts to persuade the Finance Minister to increase the rate from 15% to 30%, arguing that the additional funding would enable GNPC to undertake more activities.
“In 2025, we suffered a 50% slash in the amount of money that is given in terms of retention and it has affected a lot of our activities,” Mr Amoah said. He noted that the corporation’s plans to bring in imported gas in the form of LNG would require substantial working capital, making adequate revenue retention important to its operations.
GNPC’s leadership remains hopeful that the retention rate will be restored, which would unlock the capital necessary for its expansion plans and help secure Ghana’s energy future.
